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Investment by Islamic banking industry rises by 23pc - Newspaper

Profit-before-tax of IBI was recorded at Rs21.3bn in 3QFY21 compared to Rs20.6bn in the same period in FY20. Dawn/File
KARACHI: The Islamic Banking Industry (IBI) invested 23 per cent more than the deposit growth during Jan-March 2021 (3QFY21) indicating the presence of large liquidity, the State Bank of Pakistan (SBP) said on Friday.
In its quarterly Islamic Banking Bulletin, the SBP noted that deposit base of IBI grew by Rs68 billion during 3QFY21 while investments went up by Rs84bn. Investments (net) of IBI registered an increase of Rs84bn during the period and stood at Rs1,345bn by end of March 2021. ....

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Kuwait Finance House KSC (via Public) / KFH supports the capital governorate's initiative to beautify its buildings and roads

Kuwait Finance House KSC (via Public) / KFH supports the capital governorate's initiative to beautify its buildings and roads
publicnow.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from publicnow.com Daily Mail and Mail on Sunday newspapers.

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Capital's governor praises KFH economic, environmental, social role

Capital's governor praises KFH economic, environmental, social role
kuwaittimes.net - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuwaittimes.net Daily Mail and Mail on Sunday newspapers.

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Islamic Banking is Now More Popular than Traditional Banking

Islamic Banking is Now More Popular than Traditional Banking
The financing by the Islamic Banking segment of Pakistan’s banking industry has surpassed the value of financing made through conventional banking during the period of the last ten months of the current financial year 2020-21.
The financing includes funds offered to the businesses, the corporate sector, and individuals. This shows steady growth in the popularity of the Sharia-based banking system in the country.
According to the statistics by the State Bank of Pakistan (SBP) that were updated recently, the financing made to corporate and individual consumers by the Islamic Banking Industry including Islamic banks and Islamic banking branches of traditional banks stood at Rs. 239 billion for the period of July 2020 to April 2021. ....

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SBP unveils Islamic banking plan

SBP unveils Islamic banking plan
Aims to make Islamic banking one-third of overall banking industry by 2025
There is a need for the Islamic banking industry to capitalise on fintech to sustain its growth momentum, says SBP statement. PHOTO: FILE
KARACHI:
Pakistan’s central bank has launched a third five-year plan (2021-25) to support Islamic banks in expanding their outreach nationwide, advising them to increase online banking and “capitalise on fintech to sustain the growth momentum.”
The State Bank of Pakistan (SBP) noted that Shariah-compliant banking had gradually become an important part of the domestic economy with its market share increasing close to one-fifth of the overall banking industry in terms of deposits and assets over the past two decades. ....

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